Wakefield warehouse industrial units acquired in £2.51m deal
A pair of industrial warehouse units in Yorkshire have been purchased in a multi-million pound deal.
Peloton Real Estate - on behalf of a private client - has acquired two detached industrial warehouse units in Castleford in Wakefield for £2.51m.
Totalling around 30,000 sq ft, the units are situated on Speedwell Road, close to Junction 31 of the M62 motorway.
The units are currently let to two long-standing tenants and provide a weighted average unexpired term of approximately 3 years (to breaks).
Nick Okell, director of Peloton Real Estate, commented: “We’re delighted to complete the purchase of these two prime industrial units.
“They perfectly demonstrate our strategy to acquire well let, last mile/urban logistics assets with asset management opportunities in the short to medium-term.”
Richard Brooke, partner at Cushman & Wakefield - who advised Peloton Real Estate on the acquisition - added: “This deal demonstrates sustained investor appetite for well-located assets with strong underlying property fundamentals.
“The investment generates a good income return from day one, whilst providing a number of potential asset management initiatives to explore in the future.
“We are pleased to have been able to work alongside Peloton Real Estate on another deal in Yorkshire.”
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